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a. Willingly commit to identifying and reducing debt, and change spending and savings habits; b. work with the Intermediary to develop a personalized action plan and timeline to purchase an allowable asset; c. meet monthly with the Intermediary; d. complete at least eight hours of financial literacy training; e. complete at least six hours of asset-specific training; f. set up direct deposit with the employer and save at least $25 per month from earned income (e.g. wages, salaries, income tax refunds, professional fees, and other amounts received as compensation for personal services actually rendered); g. work closely with the Intermediary in cases of cash emergencies; and, h. work closely with the Intermediary on asset purchases. i. open a new savings account in their own name;

If job loss occurs after enrolling in the RISE program, to maintain the RISE account, the Saver is given a five month grace period to find another job. If the saver is unable to secure a job within five months, the saver’s participation in the RISE program will be stopped. Additionally, VDSS will terminate Savers who miss three consecutive monthly deposits or Savers who withdraw money from the RISE savings account without the required approval will be terminated from the RISE program. Matched funds are forfeited if an account is closed at the discretion of the enrolled saver before the completion of the RISE program. Failure to participate in the RISE program will not affect the VIEW participation and no sanction is to be imposed.

Personal savings and VDSS matched funds may be used to make payments or to purchase an allowable asset. Only the money saved in the savings account that was opened to participate in RISE. The ability of the Saver to obtain the asset within two years shall be a factor in moving forward in the RISE enrollment process.

B. An Intermediary is an approved community action agency, accessible throughout the state, that the VDSS has entered into an agreement with who will provide comprehensive engagement with the RISE participant to increase successful saving and training outcomes. The Intermediary will provide ongoing support and monitoring of all aspects of the Saver’s RISE program participation. The intermediary has a clear understanding of the RISE eligibility requirements and expected program outcomes. VDSS will provide a list of participating intermediaries per locality.

1. The Intermediary at a minimum will:

a. Approve the RISE candidate’s participation; b. discuss all RISE policies and requirements with the Saver; c. assist the candidate in securing all information necessary to participate; d. meet with the Saver monthly; e. provide case management and support to ensure the Saver’s retention; f. provide monthly reporting and data to VDSS; g. assist the Saver in setting realistic monthly savings goals; h. monitor successful completion of at least eight hours of financial literacy training; i. monitor the successful completion of at least six hours of asset-specific training; j. assist the Saver in opening a new saving’s account; k. identify financial resources; l. council Saver during cash emergencies; m. council and assist the save in finding reputable vendors; and, n. work closely with the Saver on asset purchases.

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